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Challenges and Opportunities with Energy Metals in 2015/2015 年能源金屬的挑戰和機會
Global Chinese Financial Forum 國際金融投資博覽會Vancouver, BC 卑詩省溫哥華
Chris BerryJanuary 17, 2015 /2015 年 1 月 17 日
Less is More 少即是多
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We focus on the theory of Convergence. Our focus is interpreting the dynamics between macro economics, geopolitics, technology, and resources 我們專注于收斂理論。我們的重點是分析宏觀經濟、地緣政治、技術和資源之間的相互影響。
We consult with institutional clients on discovery amongst the above topics and provide macro research 我們與機構客戶磋商發現以上板塊中最熱事件，提供宏觀研究。
We publish a complimentary newsletter called the Disruptive Discoveries Journal. Join us at www.discoveryinvesting.com 我們出版名爲《破壞性發現雜志》的雜志。加入我們www.discoveryinvesting.com。
My email 我的電郵 : [email protected] Twitter: @cberry1 LinkedIn
Background on House Mountain Partners, LLC / House Mountain Partners, LLC的背景
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Where are we in the economic cycle我們處于經濟周期的哪個階段？
Rationale for Energy Metals能源金屬的理論基礎
Two Items to Discuss Today今天討論兩個問題
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Why the Divergence? 爲何偏離？
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The Big Four 四大金屬
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US Dollar Strength 美元强勢
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Where are we?我們在哪裏？
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Labor, capital, and cash are plentiful 勞動力、資本和現金充足
High debt loads 債務負擔高
Slack in aggregate demand 總需求疲弱
Negative real interest rates 實際利率爲負值
Basic technology is ubiquitous 基本技術是普遍的
DISINFLATION
What is today’s primary economic force? 現在主要的經濟力量是什麽？
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Interest rates? 利率？
How fast can China “change”? 中國“轉型”能多快？
Continued US Dollar strength? 美元繼續强勢？
What tools do Central Banks have left? 各國中央銀行還有什麽手段？
Where is the value in commodities? 大宗商品的價值在哪裏？
Questions in 2015 /2015 年的幾個問題？
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Why Energy Metals? 爲何選擇能源金屬？
Demand rates > global GDP需求增長率>全球GDP增速 Market misunderstanding市場誤解 Multiple end markets多個終端市場 China clean-up mandate中國减少污染的决心
Crucial for PRODUCTIVITY對于生産力是關鍵
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Productivity 生産力
Raises quality of life 提高生活質量
Demographics and investment are two methods to enhance productivity 人口和投資是提高生産力的兩個方法。
Demographics in the West and China look challenging 西方國家和中國的人口看起來面臨挑戰。
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Three Keys to Sustainability and Success 可持續性和成功的三個訣竅
Compete at the Lowest Cost 以最低成本競爭
Exploit Inefficiencies 解决效率低
Focus on Vertical Integration 專注于垂直整合
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POSCO and Lithium Extraction
浦項制铁公司和鋰提取 TiO2 Production
二氧化鈦生産
Productivity DisruptionExamples生産力中斷示例
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Don’t “throw out the baby with the bathwater”.投資的時候應去粗存精
Productivity will be driven by investment. Who is investing? 投資將驅動生産力。誰投資？
New paradigm in mining space necessary –embrace disruption as both an investor or mining company to succeed 采礦業新的模式 – 投資者或礦業公司要想成功就要接受中斷
Takeaways 建議
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www.discoveryinvesting.com
My email 我的電郵 : [email protected]
Twitter: @cberry1
Thank You For Your Time 謝謝
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The material herein is for informational purposes only and is not intended to and does not constitute the rendering of investment advice or the solicitation of an offer to buy securities. The foregoing discussion contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The Act). In particular when used in the preceding discussion the words “plan,” confident that, believe, scheduled, expect, or intend to, and similar conditional expressions are intended to identify forward-looking statements subject to the safe harbor created by the ACT. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward looking statements. Such risks and uncertainties include, but are not limited to; future events and financial performance of an investment which are inherently uncertain and actual events and / or results may differ materially. In addition from time to time I discuss investments that are not registered in the U.S. or Canada. In no way, shape, or form are discussions of companies here meant as recommendations to buy or sell securities. I may own shares in any of the companies mentioned.
You absolutely must perform your own due diligence and consult your financial advisor before considering investing in companies discussed this presentation.
Data derived from various sources including the IMF, Bloomberg, and tradingeconomics.com 此報告中的材料僅爲提供信息，無意也不構成投資建議或教唆購買證券。以上的討論包含《》定義的前瞻性陳述。尤其是之
前的討論中使用了“計劃”、“相信”、“認爲”、“安排”、“預期”或“打算”和類似表達，這表明是前瞻性陳述，受到此法案安全港的保護。此類陳述涉及一定的風險和不確定性。實際結果可能與此類前瞻性陳述中表達的結果大相徑庭。 此類風險和不確定性包括但不限于本身存在不確定性的一個投資的未來事件和財務表現。此外，我有時談到美國或加拿大之外的投資。提到這些公司絕非是建議您買賣這些證券。我可能擁有提及的這些的公司。
您在考慮投資此報告中提及的公司之前必須自己進行盡職調查和諮詢您的財務顧問。此報告中的數據來源包括國際貨幣基金組織、彭博社和 tradingeconomics.com 。
Disclaimer 免責聲明
